By Glen Hallick
Glacier FarmMedia | MarketsFarm – Canola futures on the Intercontinental Exchange slipped back late Friday morning, in what an analyst called “direction-less” trade.
“Things are pretty much a typical Friday trading day ahead of the weekend,” the analyst said.
While canola gleaned support from the Chicago soy complex, Malaysian palm was to the downside as were most MATIF rapeseed contracts. Increases in crude oil limited the losses in those vegetable oils.
The Canadian Grain Commission reported cumulative 2025/26 canola exports of 627,400 tonnes have plummeted nearly 63 per cent from a year ago. Meanwhile, domestic use of 1.61 million tonnes is slightly ahead of the same time last year.
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There’s speculation within the trade that Canada’s canola harvest could reach or exceed 21 million tonnes. Earlier this month, Statistics Canada updated its canola forecast to 20.03 million tonnes and is set to issue its next update in December.
The Prairie weather forecast called for dry conditions with temperatures in the teens to the low 20 degrees Celsius. Parts of Saskatchewan are to get rain today.
The Canadian dollar continued to slip lower by mid-session Friday, with the loonie at 71.70 U.S. cents compared to Thursday’s close of 71.80.
Approximately 22,000 canola contracts were traded as of 10:38 am CDT, with prices in Canadian dollars per metric tonne:
Canola Nov 616.30 dn 3.30
Jan 629.50 dn 3.20
Mar 640.70 dn 2.90
May 650.40 dn 2.50
To access the latest futures prices, go to https://www.producer.com/markets-futures-prices/
